Trade Finance Magazine has named VTB Bank “the Best Russian Bank in Trade Finance in 2010”. The award was given according to the results of professionals poll.
The company’s activity was highly appraised due to VTB Bank’s primary focus on cooperation with Russian and the CIS financial institutions in 2009-2010, aimed at supporting trade finance operations in the region through guaranteeing payment obligations of Russian and the CIS banks to the developed countries’ banks.
The Bank has been providing further support to bilateral trade between Russia and the CIS, including post-financing to the CIS banks in Russian rubles.
In 2010, VTB conducted the first transactions of corporate customers in the Russian market to finance L/Cs in Yuan. With the high volatility of the market, the transition of foreign companies cooperating with the PRC (a major Russian partner) to settlements in national currencies is extremely topical.Through a diversified Russian branch network and subsidiary banks within the Group, VTB annually performs over 1500 operations in trade finance by the instructions of corporate customers and financial institutions.